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1017/1018/1020 THE BEACON, 34 LAKE ESPLANADE $1,840,000 + GST (IF ANY) E queenstown@colliers.com W colliers.co.nz/212828 T 03 441 0790

Otago Realty (NZ) Ltd, Licensed agent REAA 2008


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PENTHOUSE HOLIDAYS A penthouse apartment in one of Queenstown’s best-located complexes equals a quality investment in anyone’s book. Encompassing four bedrooms and four bathrooms, a clever three-key configuration means three separately rentable units for maximum income. Enjoy holidays in one and income from the others, or stretch out and appreciate the space for yourself. Located just a five minute lakeside stroll to the shops, restaurants and activities of downtown Queenstown. Stylish interiors include fully tiled bathrooms with quality fixtures and dark timber kitchen cabinetry contrasted with contemporary frosted glass. Big balconies accessed through bi-fold doors invite incredible lake and mountain views into the apartments. Currently under management with an internationally-renowned company, owners can spend up to 14 days each year in the property. Step into a Queenstown investment at a truly desirable address. Price is plus gst (if any) • Four bedroom, four bathroom apartment comprising studio suite, two bedroom apartment and one bedroom apartment • Interconnected but easily separable for income generation • Managed and residential options available • Low maintenance holiday spot with current lease guaranteeing income • Total floor area 269sqm comprises of 173sqm floor area, 70sqm decking and 26sqm carparks

4 Bedroom

4 Bathroom

2 Living Area

2 Undercover Park

269m2 Floor Area


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boundary indicative only


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EXECUTIVE SUMMARY ADDRESS RATES CV

1017/1018/1020 The Beacon, 34 Lake Esplanade, Queenstown QLDC: $5,245 ORC: $194.46 $1,140,000

BODY CORPORATE $15,165 per annum MANAGEMENT SUMMARY RETURN ON INVESTMENT

Currently in management on fixed lease, management agreement can be opted out of with notice once lease expires 4.20% net return

FLOOR AREA

Total 269m² more or less, comprised of: 173m² floor, 70m² balcony, 26m² parking space

BUILT

2003

EXTERIOR

Concrete tilt slab

FLOOR COVERINGS

Carpet, Tiling

WINDOWS

Aluminium joinery, Double glazing

HEATING

Underfloor heating, Gas fire

FURNITURE

Fully Furnished

ASPECT

South East

LAUNDRY

Cupboard

VIEWS

Lake, Mountain

PARKING

2 x Undercover Parks


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OTHER INFORMATION The following information is also available for this property - contact us for your copy. • • • • •

Full Pre Contract Disclosure Statement Full title Last 12 months financial performance Body Corporate rules AGM minutes


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INDICATIVE FLOOR PLAN

source: QLDC edocs


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INDICATIVE FLOOR PLAN

source: QLDC edocs


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Rental Appraisa l

Rental appraisal - short term 1017/1018/1020 The Beacon, Queenstown

Personally prepared for:

To Whom It May Concern

www.relaxaway.co.nz Top floor , 10 Athol Street | Queenstown | New Zealand T: +64 (0)3 442 7013 | F: +64 (0)3 441 8857 | E: queenstown@relaxaway.co.nz


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Thank you Thank you for the opportunity to appraise your Queenstown property for holiday letting. Relaxaway holiday homes offer a premium service for owners and guests alike. 1017/1018/1020 is a great apartment in a sought-after location offering many attributes including:

Four bedroom, four bathroom apartment comprising studio suite, two bedroom apartment and one bedroom apartment Interconnected but easily separable for income generation

We’re pleased to be able to utilise our extensive market knowledge and suite of comparable properties to provide you with advice on the likely rental returns which may be generated by your property. The rental ranges shown here are reflective of the current market and cover an average of peak and off-peak rates. Renting your property as a holiday home is an attractive option, particularly to owners who seek flexibility of use combined with strong income potential. Taking holidays at times to suit you is a significant drawcard when comparing the advantages of holiday letting to the income security of long-term letting. Bear in mind, however, that we have a sister company offering long-term letting so are able to maximise your income through use of a combined letting strategy - please let me know if this is something which interests you.

Spectacular lake and mountain views on offer

For owners living outside of the Queenstown area, the superior level of management, comprehensive communication and detailed attention to property maintenance ensure peace of mind wherever in the world you may be.

Short, flat stroll into Queenstown CBD and a large array of shops and restaurants

The rental estimate provided overleaf takes into consideration every aspect of the property and its situation, including:

Three key configuration

Property specification Size of property Number of people to be accommodated Location Views Position within the market Owner usage (and timing of this)

Occupancy Occupancy rates are the biggest variable in any holiday home, varying between 90 and 300+ nights per annum, with the majority achieving 150-250 nights per annum.

www.relaxaway.co.nz Top floor , 10 Athol Street | Queenstown | New Zealand T: +64 (0)3 442 7013 | F: +64 (0)3 441 8857 | E: queenstown@relaxaway.co.nz


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Rental range Based on our experience with comparable properties, we suggest a nightly rental tariff of between $420 and $825 per night, dependent on the time of year.

Below is a table estimating appropriate nightly rental and potential returns for your property.

Estimated nightly rental Occupancy

90 days

150 days

200 days

250 days

Nightly rate*

$595

$595

$595

$595

Gross income

$53,550

$89,250

$119,000

$148,750

40% running costs $21,420

$35,700

$47,600

$59,500

Net income

$53,550

$71,400

$89,250

$32,130

* Nightly rate averaged at $595 per night

We believe the nightly rental range could be increased to $650 - $1250 and as high as $2000+ over peak weekends subject to the following upgrades: - New carpet throughout - Fresh interior painting throughout - Certain items of furniture require upgrading - Decor items / throws / rugs / artwork etc - Nespresso coffee machine - TV’s upgraded to smart TV’s so guests can stream Netflix etc - Unlimited WIFI

www.relaxaway.co.nz Top floor , 10 Athol Street | Queenstown | New Zealand T: +64 (0)3 442 7013 | F: +64 (0)3 441 8857 | E: queenstown@relaxaway.co.nz


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Setting rates Whilst the rates outlined summarise our initial thoughts on the property, please be aware that these may require amendment following a more detailed viewing of the property and understanding of your expectations around income and occupancy. We have found that some owners wish to utilise the property for themselves, friends and family throughout the year, so it’s worth noting that the timing and volume of this can significantly impact the income potential of the home. To calculate accurate yields we will also require information on rates, insurance and body corporate fees.

Where to from here Thank you again for the opportunity to introduce the services which Relaxaway have to offer and to appraise the holiday letting potential of your beautiful property. I’ll leave you with what makes the difference when letting with Relaxaway:

Operating since 2011, we’re a proven, longstanding company with a wealth of very happy customers Our team of industry professionals offer 24/7 service to guests and owners alike A focus on maximising owner income delivers outstanding results Your property is marketed across all important channels and portals Live online bookings provide peace of mind Professional marketers capture a concise and compelling vision of your property to entice guests Full comprehensive financial reporting and organisation of maintenance are all part of the service

For any additional information, please get in touch on the details below. I look forward to speaking with you further.

Jenny Parkes Manager 027 554 4023 jenny@relaxaway.co.nz

www.relaxaway.co.nz All care has been taken in preparing this appraisal, however Relaxaway holiday homes, its directors or employees accept no responsibility for the accuracy of the information at any time including liability in negligence to any other person. Whilst we believe this information is accurate, no liability can be accepted by Relaxaway holiday homes, its directors or employees for copy error or omission.


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Form 18 Pre-contract disclosure statement Section 146, Unit Titles Act 2010 Unit plan:

DP 329440

Body Corporate Number:

329440 The Beacon Apartments Lake Esplanade, Queenstown

Unit Number:

Legal Title 1005 The Danmont Group

Pre-contract disclosure statement 1 This pre-contract disclosure statement is provided to prospective buyers of the property in accordance with section 146(1) of the Unit Titles Act 2010. General information 2 Further information on buying, selling a unit and living in a unit title development can be obtained by: •

reading the publication “A quick guide to unit title developments”, which is available on the Tenancy Services website: https://www.tenancy.govt.nz/uta/

contacting the Ministry of Business, Innovation and Employment contact centre can answer questions on unit titles: 0800 864 884

You are strongly advised to obtain independent legal advice regarding any questions or concerns you have about purchasing a unit or your prospective rights and obligations as a member of a body corporate. Unit title property ownership. Unit titles are a common form of multi-unit property ownership. They allow owners to privately own an area of land or part of a building and share common property with other unit owners. Unit title developments may also be structured in varied ways including staged unit title developments and layered unit title developments. This combination of individual and shared ownership of land and buildings, often in an intensive built environment, means owning a unit title involves a different set of rights and responsibilities than traditional house and land ownership. Unit title developments have a body corporate management structure to ensure decisions affecting the development can be made jointly by the unit owners. The creation and management of unit title developments is governed by the Unit Titles Act 2010 and supporting regulations. Unit plan. Every unit title development has a unit plan, which shows the location of the principal units as well as any accessory units and common property in the development. The unit plan is the formal record of all of the boundaries of the units, and the common property. Ownership and utility interests. Each unit is allocated an ownership interest and a utility interest and such interests are relevant to the determination of many of the unit owner’s rights and responsibilities under the Unit Titles Act 2010. Ownership interest is a number that reflects the relative value of each unit to the other units in the development, and is used to determine a range of matters 1


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RECORD OF TITLE UNDER LAND TRANSFER ACT 2017 UNIT TITLE Search Copy

Identifier 120660 Land Registration District Otago 10 June 2005 Date Issued Prior References 129914

Supplementary Record Sheet 127986

Stratum in Freehold Estate Legal Description Unit 1005 and Accessory Unit 1005A, 1005B Deposited Plan 329440 Registered Owners Danmont Property Limited The above estates are subject to the reservations, restrictions, encumbrances, liens and interests noted below and on the relevant unit plan and supplementary record sheet 9421845.3 Mortgage to Westpac New Zealand Limited - 13.6.2013 at 5:01 pm 11217733.1 Variation of Mortgage 9421845.3 - 3.9.2018 at 4:04 pm

Transaction Id Client Reference

56714666 csvendsen001

Search Copy Dated 21/03/19 2:39 pm, Page 1 of 3 Register Only


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Beacon 1017/1018/1020 Buy Price $

1,840,000.00 Plus GST if any

Payments to owners (includes GST) Annual Lease $

109,250.00 ($95,000 + GST)

Gross Income Less GST Net Income

$ $ $

109,250.00 14,250.00 95,000.00

Rates Body Corp Less GST on Rates/BC Net Rates/BC

$ $ $ $

5,245.00 15,165.00 2,662.17 17,747.83

Nett Return ROI

77,252.17 4.20 %

The financial information herein has been provided by the vendor and should be used as a guide only. Colliers accepts no responsibility for any inaccuracy and recommends that potential purchasers should make their own independent calculations.


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QUEENSTOWN RESIDENTIAL SALES TEAM FRED BRAMWELL 021 435 694 fred.bramwell@colliers.com

STEPHEN HEBBEND 021 453 881 stephen.hebbend@colliers.com

BRENDAN QUILL 021 416 785 brendan.quill@colliers.com

JAMES O’HAGAN 021 909 323 james.ohagan@colliers.com

RICHIE HEAP 021 500 815 richie.heap@colliers.com

GRAEME JACKSON 021 667 067 graeme.jackson@colliers.com

SOPHIE JAMES 027 463 5361 sophie.james@colliers.com

MARIA WYNDHAM 021 997 522 maria.wyndham@colliers.com

EMMA LUPS 027 428 5100 emma.lups@colliers.com

NICOLE BELL 021 898 326 nicole.bell@colliers.com

JANNETTE HIGHSTED 021 608 613 jannette.highsted@colliers.com

ROWAN MCDONALD 021 222 6314 rowan.mcdonald@colliers.com

JESSE JOHNSTON 027 733 7755 jesse.johnston@colliers.com

SCOTT COLLINS 027 478 4661 scott.collins@colliers.com

HUGH CLARK 027 223 2997 hugh.clark@colliers.com

FRASER LUSCOMBE 0274 247 859 fraser.luscombe@colliers.com

KATH CRUICKSHANK 027 436 8531 kath.cruickshank@colliers.com

GLEN ROLLE 027 534 7382 glen.rolle@colliers.com


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COLLIERS INTERNATIONAL OTAGO Colliers International Otago’s residential sales team provide leading property sales and marketing services with an established track record and unrivalled teamwork. We think global and act local, with strong regional knowledge and connections across all property sectors. Our residential team is focused on adding value to our clients’ investment decisions. We are market leaders in research, allowing a unique, knowledge-based approach to buying and selling. As the largest multi-service real estate professionals in Otago and Southland, we have specialists working in residential property, commercial sales and leasing, tourism brokerage, valuation and advisory. With offices in Queenstown, Wanaka and Dunedin, we can cater for your specific real estate requirements - strengthened by our national & international Colliers network.

WAIVER OF LIABILITY The information contained herein or otherwise in relation hereto is provided by Colliers International and affiliated companies in their best judgement, in good faith and as far as possible based on data or sources which are believed to be reliable. The material contained herein is not intended to substitute for obtaining individual advice from a qualified professional person. Colliers International, its officers, employees and agents expressly disclaim any liability and responsibility to any person whether a reader of this publication or not in respect of anything and of the consequences of anything done or omitted to be done by any such person in reliance whether wholly or partially upon the whole or any part of the contents of this publication. Therefore we record Colliers International has used its best endeavours to ensure the information provided is true and accurate but Colliers International does not accept any responsibility or liability in respect of any errors, inaccuracies or misstatements which may be contained in them. COPYRIGHT Colliers International. All rights reserved. No part of this work may be reproduced or copied in any form or by any means (graphic, electronic or mechanical, including photocopying, recording, recording taping, or information retrieval systems) without the written permission of Colliers International.


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ANTI-MONEY LAUNDERING Proving your identity when buying or selling a house

!

From 1 January 2019, real estate agents are required to verify the identity of their vendors in accordance with Anti-Money Laundering legislation. In some situations, real estate agents will also be required to verify the identity of purchasers. If your real estate agent cannot verify your identity in line with the legislation, they will not be able to act for you. Identity verification can take days and sometimes weeks if a Trust or company is involved, or where parties reside overseas.

The below gives an indication of some of the documents your real estate agent may ask you to present in person or as a certified document as part of this process: Individuals: Passport, NZ Firearms Licence or NZ Drivers Licence with another document such as a bank statement or statement issued by a Government agency. You will also need to provide a document with your residential address (for example, a utility bill).

Trusts: The Trust Deed and, for all trustees and settlors, the information required for individuals as noted above, together with information regarding the Trust’s source of funds or wealth. Additional information may also be required for beneficiaries and appointers.

Companies: Details of the company, together with the information for individuals noted above for every individual with more than a 25% shareholding, all individuals with effective control of the company and all individuals acting on behalf of the company. Information regarding source of funds or wealth may also be required.

Note: The above list is not exhaustive and is indicative only. Your real estate agent will assist you with the specific requirements in relation to your situation. DISCLAIMER: The material and information contained herein is for general information purposes only and is not intended to form professional legal advice. REINZ does not accept liability for any claim or other action that may arise directly or indirectly from the use of or reliance on the material and information provided herein. REINZ recommends you seek independent legal advice if you are unsure of your legal position.


KNOWLEDGE IS POWER Get in touch today for a copy of our 2018-19 Queenstown Market Report

SHOWROOM 20 Shotover Street, Queenstown

HEAD OFFICE Top Floor, 10 Athol Street, Queenstown

OPENING HOURS Monday – Friday: 9am – 5pm Saturday: 10am – 5pm Sunday: Agent on call

OPENING HOURS Monday – Friday: 9am – 5pm

Otago Realty (NZ) Ltd, Licensed agent REAA 2008

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1017/1018/1020 The Beacon ebook  

1017/1018/1020 The Beacon ebook